ePharmacy Market Size, Share & Trends Analysis Report By Drug Type (Prescription Drug, OTC Drug), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa),- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2024-2033

The global ePharmacy market size was exhibited at USD 70.00 billion in 2023 and is projected to hit around USD 467.05 billion by 2033, growing at a CAGR of 20.9% during the forecast period 2024 to 2033.

ePharmacy Market Size 2024 To 2033

Key Takeaways:

  • North America accounted for the largest market share of over 42.0%% in 2023.
  • Asia Pacific is anticipated to register the fastest CAGR during the forecast period.

ePharmacy Market Report Scope

 Report Coverage  Details 
Market Size in 2024 USD 84.63 Billion
Market Size by 2033 USD 467.05 Billion
Growth Rate From 2024 to 2033 CAGR of 20.9%
Base Year 2023
Forecast Period 2024-2033
Segments Covered Region
Market Analysis (Terms Used) Value (US$ Million/Billion) or (Volume/Units)
Regional Scope North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa
Key Companies Profiled The Kroger Co.; Walgreen Co.; Giant Eagle, Inc.; Walmart, Inc.; Express Scripts Holding Company; CVS Health; Optum Rx, Inc.; Rowlands Pharmacy; DocMorris (Zur Rose Group AG);Cigna Corporation (Express Scripts Holdings); Amazon.com Inc.; Axelia Solutions (Pharmeasy); Apex Healthcare Berhad (Apex Pharmacy); Apollo Pharmacy; Netmeds

 

Rising penetration of the internet across the globe, improving digitalization of healthcare services, and an increasing number of tech-savvy consumers are the key factors boosting the market growth. Rising consumer preference for online purchases with an increased focus on convenience is also aiding the growth. The increasing adoption of digital technologies and e-commerce in the healthcare sector is anticipated to propel overall growth. In January 2023, Mark Cuban, the venture capitalist, launched a digital pharmacy that sells more than 100 generic pharmaceuticals at a low cost, to be radically transparent. ePharmacy offers easier access that significantly benefits chronic elderly patients from nuclear families, as well as patients that are not in a condition to go out.

Increasing penetration of smartphones is further aiding the market growth. As per The Mobile Economy 2020, smartphone penetration was 65.0% in 2019 and is expected to reach 80.0% by 2025. The boom in the healthcare sector coupled with high operational costs has created the need to cut operational costs with the implementation of ePharmacy solutions. The increasing prevalence of chronic conditions is leading to a rise in the demand for various healthcare products, including drugs. This signifies the increasing penetration of online modes of drug procurement across the globe.

The pandemic has transformed the priorities of health systems worldwide. It has encouraged developing economies to rethink their infrastructure priorities in urban centers. Many countries faced the challenge of tackling the pandemic while making progress on other healthcare goals. Countries including India are rendering the urgency to combat the spread of COVID-19 into opportunities to make more resilient health systems. Increasing government focus on advancement and improvement in the overall healthcare system can contribute to market growth.

Although medical stores were classified as vital services, online pharmacies emerged as one of the largest beneficiaries of the pandemic-induced lockdown, as individuals preferred to buy medicines online to avoid the risk of disease spreading. In March 2023, Walgreens and Labcorp, a prominent global life sciences firm introduced Pixel by Labcorp, its (COVID-19 at-home collection kit), PCR test. Moreover, many communities can obtain easy testing services owing to Walgreens' inclusion of the kits, which are supplied in conjunction with the US Department of Health and Human Services (HHS).

The ePharmacy market increased by 44.0% from 2022 to 2023. High caseloads in countries coupled with regional lockdown had pushed consumers to adopt the ePharmacy platforms to order medicines online from the comfort of their homes, rather than visiting offline pharmacies and diagnostic centers. ePharmacy has gained significant growth during the pandemic owing to a rise in the number of government initiatives supporting the adoption of online purchase of medicines. The COVID-19 pandemic has led to an increase in the strategic initiatives by many market players.

The market will continue to grow post-pandemic, mainly owing to increasing adoption among consumers due to the convenience, affordability, and accessibility offered by these platforms. Increasing digitization and benefits associated with the adoption of ePharmacy over traditional pharmacies are anticipated to drive market growth in the coming years. Moreover, the second wave of the COVID-19 epidemic has prompted a spike in demand for medical gadgets, personal protective equipment (PPE), as well as health supplements, and frequently accessible medications in the ePharmacy market. High caseloads in cities, along with regional lockdowns, have prompted customers to purchase online rather than visit offline pharmacies and diagnostic centers, especially in big metros.

Furthermore, the increasing geriatric population is expected to fuel the growth of the market. Ease of operation, increasing digitalization, and rising number of beneficiaries registering under Medicare are some of the factors supporting the growth. For instance, according to the data published by Kaiser Family Foundation in June 2021, the total enrollment in a Medicare Advantage plan is over 26 million people, accounting for 42.0% of the total Medicare population. In addition, high funding, increasing investments, and rising strategic initiatives being undertaken by several funding agencies, governments, and companies are contributing to the market growth.

However, the presence of some illegitimate online pharmacies is limiting the growth of the market. These unlicensed pharmacies sell medicines that have not been authorized by the FDA, which, in turn, increases the possibility of obtaining counterfeit and adulterated medications with incorrect active ingredients from these pharmacies. For instance, as per a warning issued by the FDA in 2020, some online pharmacies were caught to be engaged in illegal activity and violating the U.S. Federal Food, Drug, and Cosmetic Act, which included some points, such as the sale of unapproved prescription drugs, sale of prescription drugs without prescription, inadequate explanation of directions for safe use of some prescription drugs, etc. In addition, in June 2021, the FDA also published a list of illegally operating online pharmacies (not all-inclusive), such as Buy Pharma, Rx 2 Go Pharmacy, Pharmacy Geoff’ and Sandra Pharma, that have been issued warning letters.

Segments Insights:

Regional Insights

North America accounted for the largest market share of over 42.0% in 2023. Rising adoption of e-commerce, growing geriatric population, increasing online sales, developed healthcare infrastructure, and positive attitude towards the adoption of new technologies are some of the major factors contributing to the regional market growth. Moreover, nearly 80% population of the U.S. is connected to ePharmacy and the shifting trend toward the direct-to-patient model.

ePharmacy Market Share, By Region 2023 (%)

The digital world has opened doors to consumer-friendly online experiences and other advanced services is further propelling the overall market growth in North America. As a result, in December 2020, Medicure Inc., the cardiovascular pharmaceutical business, announced that the company has entered into a formal agreement to purchase 100% of Marley Drug, Inc. through its wholly-owned U.S. subsidiary, Medicure Pharma Inc. The COVID-19 pandemic has significantly impacted the purchasing behavior of consumers, leading to more people than ever seeking medicines and other healthcare-related supplies through the ePharmacy platform. For instance, in April 2023, Walgreens and Wing launched drone delivery in the first large urban region in the U.S. as a pilot study.

Asia Pacific is anticipated to register the fastest CAGR during the forecast period. Emerging economies, such as China and India, possess high growth potential owing to the large population base coupled with increasing government initiatives supporting the adoption of digital technologies. With an increase in the number of strategic initiatives by various public and private organizations, the market in Asia Pacific is anticipated to grow at a faster pace in the coming years. For instance, in August 2020, Reliance Retail announced the acquisition of a 60.0% equity stake in Netmeds for USD 83.0 million. The acquisition is aimed at enhancing the company’s ability to offer affordable & high-quality health care products & services to its customers.

Moreover, in January 2023, Hyphens Pharma International Limited, Singapore's largest specialty pharmaceutical as well as consumer healthcare company, launched WellAway ePharmacy in the city-state. WellAway offers customers the ease of access to pharmaceutical services while also assisting doctors with teleconsultation. This service is especially beneficial for patients who are elderly, immobile, self-isolating, or just desire to limit their external contact time, particularly during the current COVID-19 outbreak.

Some of the prominent players in the EPharmacy market include:

  • The Kroger Co.
  • Walgreen Co.
  • Giant Eagle, Inc.
  • Walmart, Inc.
  • Express Scripts Holding Company
  • CVS Health
  • Optum Rx, Inc.
  • Rowlands Pharmacy
  • DocMorris (Zur Rose Group AG)
  • Cigna Corporation (Express Scripts Holdings)
  • Amazon.com Inc.
  • Axelia Solutions (Pharmeasy)
  • Apex Healthcare Berhad (Apex Pharmacy)
  • Apollo Pharmacy
  • Netmeds

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global ePharmacy market.

Drug type

  • Prescription drug
  • Over-the-counter drug (OTC)

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

The global ePharmacy market size was exhibited at USD 70.00 billion in 2023 and is projected to hit around USD 467.05 billion by 2033,

The global ePharmacy market is expected to grow at a compound annual growth rate of 20.9% from 2024 to 2033 to reach USD 467.05 billion by 2033.

Some key players operating in the ePharmacy market include The Kroger Co.; Walgreen Co.; Wal-Mart Stores, Inc.; CVS Health; Express Scripts Holding Company; Giant Eagle, Inc.; DocMorris (Zur Rose Group AG); Rowlands Pharmacy; and OptumRx, Inc.

Key factors that are driving the ePharmacy market growth include increased internet penetration across the world, improved healthcare infrastructure, rapid aging of the population, and increasing awareness pertaining to e-commerce amongst users of all age groups.

Chapter 1 ePharmacy Market: Methodology and Scope

1.1 Research Process

1.2 Information Procurement

1.2.1 Purchased database

1.2.1.1 internal database

1.2.2 Market Formulation & Validation

1.3 Research Methodology

1.4 Research Scope and Assumptions

1.5 Research Methodology

1.5.1 Region Market: CAGR Calculation

1.5.2 Region-based Segment Share Calculation

1.6 List to Data Nutrient Type

Chapter 2 ePharmacy Market: Executive Summary

2.1 Market Outlook

2.2 Segment Outlook

2.3 Competitive Insights

2.4 ePharmacy market Snapshot

Chapter 3 ePharmacy Market: Variables, Trends & Scope

3.1 Market Segmentation

3.2 Penetration and Growth Prospect Mapping

3.3 ePharmacy Market Dynamics

3.3.1 Market Driver Analysis

3.3.2 Market Restraint Analysis

3.4 ePharmacy Market Analysis Tools

3.4.1 Industry Analysis - Porter's

3.4.1.1 Bargaining power of suppliers

3.4.1.2 Bargaining power of the buyers

3.4.1.3 Threat of substitution

3.4.1.4 Threats of new entrants

3.4.1.5 Competitive rivalry

3.4.2 PESTLE Analysis

3.4.2.1 Political And Legal Landscape

3.4.2.2 Economic and Social Landscape

3.4.2.3 Environment and Technology Landscape

3.5 Impact of COVID-19 on the ePharmacy market

Chapter 4 ePharmacy Market: Regional Estimates & Trend Analysis

4.1 Regional market snapshot (USD Million)

4.2 ePharmacy market: regional movement analysis, 2024 & 2033 (USD Million)

4.3 North America

4.3.1 North America ePharmacy market estimates and forecasts, 2021 - 2033

4.3.2 U.S.

4.3.2.1 U.S. ePharmacy market estimates and forecasts, 2021 - 2033

4.3.3 Canada

4.3.3.1 Canada ePharmacy market estimates and forecasts, 2021 - 2033

4.4 Europe

4.4.1 Europe ePharmacy market estimates and forecasts, 2021 - 2033

4.4.2 Germany

4.4.2.1 Germany ePharmacy market estimates and forecasts, 2021 - 2033

4.4.3 U.K.

4.4.3.1 U.K. ePharmacy market estimates and forecasts, 2021 - 2033

4.4.4 Italy

4.4.4.1 Italy ePharmacy market estimates and forecasts, 2021 - 2033

4.4.5 Spain

4.4.5.1 Spain ePharmacy market estimates and forecasts, 2021 - 2033

4.4.6 France

4.4.6.1 France ePharmacy market estimates and forecasts, 2021 - 2033

4.4.7 Russia

4.4.7.1 Russia ePharmacy market estimates and forecasts, 2021 - 2033

4.4.8 Denmark

4.4.8.1 Denmark ePharmacy market estimates and forecasts, 2021 - 2033

4.4.9 Sweden

4.4.9.1 Sweden ePharmacy market estimates and forecasts, 2021 - 2033

4.4.9 Norway

4.4.9.1 Norway ePharmacy market estimates and forecasts, 2021 - 2033

4.5 Asia Pacific

4.5.1 Asia Pacific ePharmacy market estimates and forecasts, 2021 - 2033

4.5.2 Japan

4.5.2.1 Japan ePharmacy market estimates and forecasts, 2021 - 2033

4.5.3 China

4.5.3.1 China ePharmacy market estimates and forecasts, 2021 - 2033

4.5.4 India

4.5.4.1 India ePharmacy market estimates and forecasts, 2021 - 2033

4.5.5 Australia

4.5.5.1 Australia ePharmacy market estimates and forecasts, 2021 - 2033

4.5.6 Singapore

4.5.6.1 Singapore ePharmacy market estimates and forecasts, 2021 - 2033

4.5.7 South Korea

4.5.7.1 South Korea ePharmacy market estimates and forecasts, 2021 - 2033

4.5.6 Thailand

4.5.6.1 Thailand ePharmacy market estimates and forecasts, 2021 - 2033

4.6 Latin America

4.6.1 Latin America ePharmacy market estimates and forecasts, 2021 - 2033

4.6.2 Brazil

4.6.2.1 Brazil ePharmacy market estimates and forecasts, 2021 - 2033

4.6.3 Mexico

4.6.3.1 Mexico ePharmacy market estimates and forecasts, 2021 - 2033

4.6.4 Argentina

4.6.4.1 Argentina ePharmacy market estimates and forecasts, 2021 - 2033

4.7 MEA

4.7.1 MEA ePharmacy market estimates and forecasts, 2021 - 2033

4.7.2 South Africa

4.7.2.1 South Africa ePharmacy market estimates and forecasts, 2021 - 2033

4.7.3 Saudi Arabia

4.7.3.1 Saudi Arabia ePharmacy market estimates and forecasts, 2021 - 2033

4.7.4 UAE

4.7.4.1 UAE ePharmacy market estimates and forecasts, 2021 - 2033

4.7.4Kuwait

4.7.4.1Kuwait ePharmacy market estimates and forecasts, 2021 - 2033

Chapter 5 ePharmacy market: Competitive Analysis

5.1 Recent Developments & Impact Analysis, By Key Market Participants

5.2 Company/Competition Categorization (Key innovators, Market leaders, Emerging Players)

5.3 Company Market Position Analysis (Geographic Presence, Product Portfolio, Key Alliance, Industry Experience)

Chapter 6 Competitive Landscape

6.1 Company Profiles

6.1.1 The Kroger Co.

6.1.1.1 Company overview

6.1.1.2 Financial performance

6.1.1.3 Product benchmarking

6.1.1.4 Strategic initiatives

6.1.2 Walgreen Co.

6.1.2.1 Company overview

6.1.2.2 Financial performance

6.1.2.3 Product benchmarking

6.1.2.4 Strategic initiatives

6.1.3 Giant Eagle, Inc.

6.1.3.1 Company overview

6.1.3.2 Financial performance

6.1.3.3 Product benchmarking

6.1.3.4 Strategic initiatives

6.1.4 Walmart, Inc.

6.1.4.1 Company overview

6.1.4.2 Financial performance

6.1.4.3 Product benchmarking

6.1.4.4 Strategic initiatives

6.1.5 Express Scripts Holding Company

6.1.5.1 Company overview

6.1.5.2 Financial performance

6.1.5.3 Product benchmarking

6.1.5.4 Strategic initiatives

6.1.6 CVS Health

6.1.6.1 Company overview

6.1.6.2 Financial performance

6.1.6.3 Product benchmarking

6.1.6.4 Strategic initiatives

6.1.7 OptumRx, Inc.

6.1.7.1 Company overview

6.1.7.2 Financial performance

6.1.7.3 Product benchmarking

6.7.4 Strategic initiatives

6.1.8 Rowlands Pharmacy

6.1.8.1 Company overview

6.1.8.2 Financial performance

6.1.8.3 Product benchmarking

6.1.8.4 Strategic initiatives

6.1.9 DocMorris (Zur Rose Group AG)

6.1.9.1 Company overview

6.1.9.2 Financial performance

6.1.9.3 Product benchmarking

6.1.9.4 Strategic initiatives

6.1.10 Cigna Corporation (Express Scripts Holdings)

6.1.10.1 Company overview

6.1.10.2 Financial performance

6.1.10.3 Product benchmarking

6.1.10.4 Strategic initiatives

6.1.11 Amazon.com Inc

6.1.11.1 Company overview

6.1.11.2 Financial performance

6.1.11.3 Product benchmarking

6.1.11.4 Strategic initiatives

6.1.12 Axelia Solutions (Pharmeasy)

6.1.12.1 Company overview

6.1.12.2 Financial performance

6.1.12.3 Product benchmarking

6.1.12.4 Strategic initiatives

6.1.13 Apex Healthcare Berhad (Apex Pharmacy)

6.1.13.1 Company overview

6.1.13.2 Financial performance

6.1.13.3 Product benchmarking

6.1.13.4 Strategic initiatives

6.1.14 Apollo Pharmacy

6.1.14.1 Company overview

6.1.14.2 Financial performance

6.1.14.3 Product benchmarking

6.1.14.4 Strategic initiatives

6.1.15 Netmeds

6.1.15.1 Company overview

6.1.15.2 Financial performance

6.1.15.3 Product benchmarking

6.1.15.4 Strategic initiatives

Proceed To Buy

USD 4500
USD 3800
USD 1900
USD 1200

Customization Offered

  • check-img Cross-segment Market Size and Analysis for Mentioned Segments
  • check-imgAdditional Company Profiles (Upto 5 With No Cost)
  • check-img Additional Countries (Apart From Mentioned Countries)
  • check-img Country/Region-specific Report
  • check-img Go To Market Strategy
  • check-imgRegion Specific Market Dynamics
  • check-imgRegion Level Market Share
  • check-img Import Export Analysis
  • check-imgProduction Analysis
  • check-imgOthers